Participation banking
Participation finance department established under presidency
The Turkish presidency is setting up an office to deal with the growing sector of participation finance, according to an official notice published on Feb. 8.
The department within the Presidential Finance Office will focus on raising awareness of participation finance and developing strategies in the field, said a presidential decree published in the Official Gazette.
Watchdog permits Emlak Katılım to conduct operations
Turkey's banking industry watchdog BDDK has authorized the participation bank Emlak Katılım to conduct operations.